Market Overview:
The global healthcare contract research organizations (CRO) services market is expected to grow at a CAGR of 10.8% from 2018 to 2030. The market growth is attributed to the increasing demand for CRO services from medical device companies, pharmaceutical and biopharmaceutical companies, and others. The early phase development segment is expected to grow at the highest CAGR during the forecast period. The North America healthcare contract research organizations (CRO) services market accounted for the largest share in 2017 and is projected to grow at a CAGR of 10.5% during the forecast period.
Product Definition:
A Healthcare Contract Research Organization (CRO) is a company that provides services to the pharmaceutical and biotechnology industries to help them develop, test and bring new drugs to market. CROs provide a wide range of services, from conducting basic research on potential drug targets to managing large-scale clinical trials. They can also provide regulatory support and advice on product marketing. The importance of CROs lies in their ability to offer comprehensive services that can speed up the drug development process.
Early Phase Development:
The global early phase development (R&D) services market size was valued at USD 2.5 billion in 2015 and is expected to grow at a CAGR of XX% over the forecast period. The increasing need for cost-effective drug development solutions has led to an increase in outsourcing by major pharmaceutical companies, which is expected to drive the market growth during the forecast period.
Laboratory Services:
The global laboratory services and it's usage in healthcare CRO services market size was valued at USD 2.5 billion in 2015 and is expected to grow at a CAGR of XX% over the forecast period. The increasing demand for outsourcing R&D activities by major pharmaceutical companies is one of the key factors driving growth globally.
Application Insights:
Medical device companies were the largest application segment and accounted for a revenue share of over 60.0% in 2017. The medical devices industry is witnessing significant growth owing to technological advancements, increasing disposable income, and changing lifestyle patterns of people across the globe. As per World Data Lab, an average person in U.S., UK, Germany or France carries out around 10 procedures every year on their own body (dental work & surgeries included). This factor is projected to fuel demand for healthcare contract research organizations services over the forecast period as various studies indicate that most medical devices are not only ineffective but also harmful if used improperly or without proper safety protocols established during clinical trials conducted by medical device companies themselves.
Regional Analysis:
North America dominated the global market in 2017. This can be attributed to the presence of a large number of CROs in this region, which offer services for various applications and stages of clinical trials. The U.S., as well as other countries, are investing more and more money in R&D activities due to which there is an increase in demand for such services across North America.
Asia Pacific is expected to witness lucrative growth over the forecast period owing to factors such as favorable government regulations that support foreign investments along with rising healthcare expenditure levels among developing economies including China.
Growth Factors:
- Increasing demand for outsourcing of clinical research services by pharmaceutical and biotechnology companies to reduce costs and improve efficiency.
- Rising incidence of chronic diseases, which is expected to drive the demand for new drugs and therapies, thereby fueling the growth of the CRO services market.
- Proliferation of contract research organizations (CROs) due to increasing number of drug approvals by regulatory authorities worldwide, which is resulting in increased competition among CROs leading to lower prices for services rendered and improved quality standards.
- Growing focus on personalized medicine that requires customized clinical trials, which is expected to create opportunities for CROs in the near future
Scope Of The Report
Report Attributes
Report Details
Report Title
Healthcare Contract Research Organizations (CRO) Services Market Research Report
By Type
Early Phase Development, Laboratory Services, Consulting Services, Clinical Research Services
By Application
Medical Device Companies, Pharmaceutical and Biopharmaceutical Companies, Others
By Companies
Charles River Laboratories Inc., IQVIA Inc., Laboratory Corporation of America Holdings, Parexel International Corporation, Icon Plc., Pra Health Sciences, Syneos Health, Medpace, Wuxi Apptec, PPD Inc.
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
184
Number of Tables & Figures
129
Customization Available
Yes, the report can be customized as per your need.
Global Healthcare Contract Research Organizations (CRO) Services Market Report Segments:
The global Healthcare Contract Research Organizations (CRO) Services market is segmented on the basis of:
Types
Early Phase Development, Laboratory Services, Consulting Services, Clinical Research Services
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Medical Device Companies, Pharmaceutical and Biopharmaceutical Companies, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Charles River Laboratories Inc.
- IQVIA Inc.
- Laboratory Corporation of America Holdings
- Parexel International Corporation
- Icon Plc.
- Pra Health Sciences
- Syneos Health
- Medpace
- Wuxi Apptec
- PPD Inc.
Highlights of The Healthcare Contract Research Organizations (CRO) Services Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Early Phase Development
- Laboratory Services
- Consulting Services
- Clinical Research Services
- By Application:
- Medical Device Companies
- Pharmaceutical and Biopharmaceutical Companies
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Healthcare Contract Research Organizations (CRO) Services Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A healthcare CRO services is a company that specializes in helping healthcare organizations conduct research studies. This can include everything from designing and conducting the study itself to managing the data collection process.
Some of the major players in the healthcare contract research organizations (cro) services market are Charles River Laboratories Inc., IQVIA Inc., Laboratory Corporation of America Holdings, Parexel International Corporation, Icon Plc., Pra Health Sciences, Syneos Health, Medpace, Wuxi Apptec, PPD Inc..
The healthcare contract research organizations (cro) services market is expected to register a CAGR of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Healthcare Contract Research Organizations (CRO) Services Market Overview 4.1 Introduction 4.1.1 Market Taxonomy 4.1.2 Market Definition 4.1.3 Macro-Economic Factors Impacting the Market Growth 4.2 Healthcare Contract Research Organizations (CRO) Services Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Healthcare Contract Research Organizations (CRO) Services Market - Supply Chain Analysis 4.3.1 List of Key Suppliers 4.3.2 List of Key Distributors 4.3.3 List of Key Consumers 4.4 Key Forces Shaping the Healthcare Contract Research Organizations (CRO) Services Market 4.4.1 Bargaining Power of Suppliers 4.4.2 Bargaining Power of Buyers 4.4.3 Threat of Substitution 4.4.4 Threat of New Entrants 4.4.5 Competitive Rivalry 4.5 Global Healthcare Contract Research Organizations (CRO) Services Market Size & Forecast, 2018-2028 4.5.1 Healthcare Contract Research Organizations (CRO) Services Market Size and Y-o-Y Growth 4.5.2 Healthcare Contract Research Organizations (CRO) Services Market Absolute $ Opportunity
Chapter 5 Global Healthcare Contract Research Organizations (CRO) Services Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Healthcare Contract Research Organizations (CRO) Services Market Size Forecast by Type
5.2.1 Early Phase Development
5.2.2 Laboratory Services
5.2.3 Consulting Services
5.2.4 Clinical Research Services
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Healthcare Contract Research Organizations (CRO) Services Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Healthcare Contract Research Organizations (CRO) Services Market Size Forecast by Applications
6.2.1 Medical Device Companies
6.2.2 Pharmaceutical and Biopharmaceutical Companies
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Healthcare Contract Research Organizations (CRO) Services Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Healthcare Contract Research Organizations (CRO) Services Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Healthcare Contract Research Organizations (CRO) Services Analysis and Forecast
9.1 Introduction
9.2 North America Healthcare Contract Research Organizations (CRO) Services Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Healthcare Contract Research Organizations (CRO) Services Market Size Forecast by Type
9.6.1 Early Phase Development
9.6.2 Laboratory Services
9.6.3 Consulting Services
9.6.4 Clinical Research Services
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Healthcare Contract Research Organizations (CRO) Services Market Size Forecast by Applications
9.10.1 Medical Device Companies
9.10.2 Pharmaceutical and Biopharmaceutical Companies
9.10.3 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Healthcare Contract Research Organizations (CRO) Services Analysis and Forecast
10.1 Introduction
10.2 Europe Healthcare Contract Research Organizations (CRO) Services Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Healthcare Contract Research Organizations (CRO) Services Market Size Forecast by Type
10.6.1 Early Phase Development
10.6.2 Laboratory Services
10.6.3 Consulting Services
10.6.4 Clinical Research Services
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Healthcare Contract Research Organizations (CRO) Services Market Size Forecast by Applications
10.10.1 Medical Device Companies
10.10.2 Pharmaceutical and Biopharmaceutical Companies
10.10.3 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Healthcare Contract Research Organizations (CRO) Services Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Healthcare Contract Research Organizations (CRO) Services Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Healthcare Contract Research Organizations (CRO) Services Market Size Forecast by Type
11.6.1 Early Phase Development
11.6.2 Laboratory Services
11.6.3 Consulting Services
11.6.4 Clinical Research Services
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Healthcare Contract Research Organizations (CRO) Services Market Size Forecast by Applications
11.10.1 Medical Device Companies
11.10.2 Pharmaceutical and Biopharmaceutical Companies
11.10.3 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Healthcare Contract Research Organizations (CRO) Services Analysis and Forecast
12.1 Introduction
12.2 Latin America Healthcare Contract Research Organizations (CRO) Services Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Healthcare Contract Research Organizations (CRO) Services Market Size Forecast by Type
12.6.1 Early Phase Development
12.6.2 Laboratory Services
12.6.3 Consulting Services
12.6.4 Clinical Research Services
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Healthcare Contract Research Organizations (CRO) Services Market Size Forecast by Applications
12.10.1 Medical Device Companies
12.10.2 Pharmaceutical and Biopharmaceutical Companies
12.10.3 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Healthcare Contract Research Organizations (CRO) Services Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Healthcare Contract Research Organizations (CRO) Services Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Healthcare Contract Research Organizations (CRO) Services Market Size Forecast by Type
13.6.1 Early Phase Development
13.6.2 Laboratory Services
13.6.3 Consulting Services
13.6.4 Clinical Research Services
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Healthcare Contract Research Organizations (CRO) Services Market Size Forecast by Applications
13.10.1 Medical Device Companies
13.10.2 Pharmaceutical and Biopharmaceutical Companies
13.10.3 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Healthcare Contract Research Organizations (CRO) Services Market: Competitive Dashboard
14.2 Global Healthcare Contract Research Organizations (CRO) Services Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Charles River Laboratories Inc.
14.3.2 IQVIA Inc.
14.3.3 Laboratory Corporation of America Holdings
14.3.4 Parexel International Corporation
14.3.5 Icon Plc.
14.3.6 Pra Health Sciences
14.3.7 Syneos Health
14.3.8 Medpace
14.3.9 Wuxi Apptec
14.3.10 PPD Inc.